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Life Insurance Policy Renewal Rules In India: If you have got all three doses of Corona Vaccine (Corona Vaccine Dose) to avoid Corona Pandemic, then you can buy a new life, health or term insurance policy (New Life Insurance Policy) and get a discount on the renewal premium. Is.
what is planning
It is being claimed in the media reports that the insurance company may consider this proposal in the coming days. In fact, insurance regulator IRDAI asked insurers to consider giving a discount on renewal of general and health insurance policies to those policyholders who have taken 3 shots of the Kovid-19 vaccine.
Increased premium on insurance plan
Insurance companies have made some changes in the rules related to Life, Health and Term Insurance Policies after the Corona epidemic. The premium has been increased on all types of plans. Because during the epidemic across the country, insurance companies had suffered a lot due to the huge number of claims received.
IRDA suggested
The Insurance Regulatory and Development Authority of India (IRDA) has asked the insurance company to consider giving a discount on the renewal of general and health insurance policies to those policyholders who have taken three shots of the corona vaccine. Insurance regulator IRDA has asked life and non-life insurance companies to settle Kovid-19 related claims as soon as possible and reduce paper work.
Increased insurance claim cases
IRDA urged insurers to ban empaneled hospitals from taking deposits for Covid hospitalization, as some hospitals were asking for deposits for Covid treatment during the first and second wave despite having a cashless policy. Insurers have complained to the regulator about cases of fraud regarding treatment protocols.
So many death claims came
During the financial year 2021-22, there was an increase of 73.41 percent in the death claims of insurance companies at the time of Corona epidemic. According to IRDA, insurers have paid claims worth Rs 45,817 crore involving 15.87 lakh policies during 2021-22. Out of this, claims of Rs 17,269 crore were given due to deaths due to Covid.
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